Photo Gallery: Arrow Air Ceases Operations After 63 Years of Service
Miami-based cargo operator Arrow Air ceased operations Wednesday, citing years of financial losses.
The cargo airline is owned by MatlinPatterson Global Advisors, the same private equity firm that owns Global Aviation Holdings, the holding company of charter operators World Airways and North American Airlines.
Arrow originally flew intra-California passenger flights between 1947 and 1953, and later became an aircraft leasing company for several decades until restarting flights in March of 1981.
While operating a U.S. military charter in 1985, an Arrow Air DC-8 crashed while departing Gander, Newfoundland, likely due to wing icing, resulting in the deaths of all 256 aboard.
The last decade had been a challenging one for Arrow, with 2004 being the only year since the millennium in which they posted a small profit after filing for bankruptcy protection that January. The aircraft also dealt with two runway overrun incidents which fortunately did not result in any injuries.
Over the years since their 1981 re-inception, Arrow Air/Arrow Cargo operated a number of aircraft types, including Douglas DC-8s, Lockheed L-1011s, McDonnell Douglas DC-10s and more recently Boeing 757-200s.